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Fitbit To Acquire Assets Of Smartwatch Maker Pebble
Fitbit Inc. (NYSE:FIT) has officially announced that it is buying key assets from smartwatch startup Pebble. The deal reportedly closed yesterday, December 6. Fitbit co-founder and CEO James Park said in a release, “With this acquisition,... More of this article »
Chipotle Turns Its Focus To Improving Customer Service
Even Chipotle Mexican Grill (NYSE:CMG) thinks a lot of its restaurants leave a lot to be desired. Chipotle co-founder and CEO Steve Ells admits that he doesn’t think his restaurants are run well enough to bring customers back. He... More of this article »
AT&T’s New Plan Draws Fire From FCC
AT&T’s (NYSE:T) planned use of data cap exemptions, a practice known as “zero-rating,” has attracted the attention of the Federal Communications Commission. The practice could be a violation of net neutrality. Net neutrality... More of this article »
Carrier Corp. Offered $7M In Incentives To Retain U.S. Jobs
Carrier Corp. will receive a $7 million incentive package as part of a deal to keep some of its workers in the United States. Carrier will receive $5 million in tax credits over 10 years in exchange for keeping 1,069 jobs at its Indianapolis... More of this article »
Airbnb Agrees To Rental Limits For First Time
Popular home-sharing website Airbnb has agreed to rental limits in two European cities after complaints that the company’s practices were negatively affecting home availability. Critics complain that homeowners using the site can... More of this article »
GoPro Slashing Jobs In Bid To Become Profitable
GoPro Inc. (NASDAQ:GPRO) has announced that it will reduce its workforce by 15 percent in its latest bid to help the company become profitable. That equates to more than 200 full-time positions. The company currently employs approximately... More of this article »
Teva Pharmaceutical To Market World’s First Medical Cannabis Inhaler
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is on track to begin marketing the world’s first inhaler for medical cannabis. Teva partnered with Syqe Medical to develop the device. In a statement, the companies said that the device... More of this article »
New Skin Patch Tracks Health Through Sweat
Researchers are developing an innovative new way to track health and fitness. A skin patch has been developed that can test droplets of sweat to track health while people exercise. Testing showed that the patches would work even on... More of this article »
Tesla Completes Deal For SolarCity
Tesla Motors’ (NASDAQ:TSLA) deal to acquire SolarCity Corp. (NASDAQ:SCTY) closed Monday. The all-stock deal valued SolarCity at $2 billion based on Tesla’s closing stock price Friday. When Tesla and SolarCity announced the agreement... More of this article »
Symantec Announces Bid To Buy LifeLock
Computer security firm Symantec (NASDAQ:SYMC) announced a $2.3 billion bid to buy identity protection service LifeLock (NYSE:LOCK) on Monday. The offer for LifeLock values its shares at $24 apiece, 16 percent above Friday’s closing... More of this article »
Facebook Enhances WhatsApp With Secure Video Calling
Facebook (NASDAQ:FB) is adding fully encrypted video calling to its WhatsApp messaging app in a move to assuage privacy concerns. Now, people have another way to communicate without fear of eavesdropping by companies or government... More of this article »
LinkedIn Blocked In Russia After Court Ruling
Russia‘s communications regulator has ordered that public access to LinkedIn’s (NYSE:LNKD) website be blocked throughout the country. Roskomnadzor, also known as the Russian Federal Service for Supervision of Communications, Information... More of this article »
Target Beats Expectations For Sales And Earnings
Target (NYSE:TGT) reported a much smaller than expected decline in comparable sales for the third quarter of its fiscal year and topped Wall Street’s sales and earnings estimates. Target’s adjusted earnings were $1.04 per share... More of this article »
Facebook Under Fire For Fake News On News Feeds
Facebook (NASDAQ:FB) is facing increasing criticism over allowing fake news stories to spread on the social-media site. President Barack Obama famously called Facebook a “dust cloud of nonsense” during the 2016 US presidential... More of this article »
Samsung Makes $8B Bet On Smarter Cars
Samsung’s (SSNLF) latest deal, announced Monday, will find it acquiring U.S. auto-parts supplier Harman International for $8 billion in an all-cash deal. Samsung’s $112-a-share offer for Harman is well below the roughly $145 that... More of this article »
Google Launches Android Auto Smartphone App
Android Auto is now available as an app for your phone after Google (NASDAQ:GOOGL) launched its most recent update to the program. You can now get all the benefits of Android Auto even if your car isn’t Android Auto compatible. The... More of this article »
Delta To Debut Premium Economy Service Next Year
Over the past few years, Delta Air Lines (NYSE:DAL) has invested billions of dollars in its cabin modernization program and the customer experience. Now, it is bringing those results to market through its new Delta Premium service.... More of this article »
Wells Fargo Investigating Leadership’s Role In Account Scandal
Wells Fargo & Co. (NYSE:WFC) is continuing to investigate the circumstances surrounding the recent account scandal that rocked all levels of the company. A generation of executives thrived in the ambitious sales culture promoted... More of this article »
Facebook: Posts Can’t Be Used For Pricing Car Insurance
The rollout of a new app has been delayed after Facebook (NASDAQ:FB) determined that posts to its social media site cannot be used to price car insurance for new drivers. Insurance company Admiral had intended to launch an app that... More of this article »
Standard Chartered Fails To Meet Earnings Estimates For 3Q
Standard Chartered (STAN) reported disappointing third quarter results on Tuesday. The bank generated income of $3.47 billion in the July to September quarter, down 6 percent from $3.68 billion from a year ago. Its third quarter underlying... More of this article »
General Electric Makes Huge Bid For Baker Hughes
General Electric’s (NYSE:GE) bid to pay $7.4 billion in cash to combine its sector assets with Baker Hughes (NYSE:BHI) may be its biggest-ever deal in the oil and gas industry. GE will pay Baker Hughes a special dividend of $17.50... More of this article »
Facebook Under Fire Over Ethnic Targeting
Facebook (NASDAQ:FB) has come under fire over an option in its ad targeting platform that lets advertisers exclude certain ethnicities from seeing certain ads. The potential flaw in the ad-buying system was discovered by ProPublica.... More of this article »
Caterpillar Woes Continue With Weak Demand In 3Q
Caterpillar Inc. (NYSE:CAT) continues to suffer in the global commodities bust. Sales of construction, mining and oil equipment remain weak. Caterpillar is currently the world’s largest maker of mining and construction equipment,... More of this article »
EpiPen Rival Auvi-Q Coming Back To Market
An EpiPen rival will be returning to the market next year as a cheaper alternative to the lifesaving device. Kaléo announced on Wednesday that they would bring the Auvi-Q back in the first half of 2017. Like the EpiPen, the Auvi-Q... More of this article »
Visa 4Q Earnings and Revenue Higher Than Expected
Visa (NYSE:V) reported better-than-expected fiscal fourth-quarter earnings that rose 28 percent from a year earlier. Visa reported net income of $1.93 billion, or 79 cents per share, for the period ended Sept. 30, compared with $1.51... More of this article »
TD Ameritrade-Scottrade Merger Under Scrunity
TD Ameritrade (NASDAQ:AMTD) has announced plans to purchase Scottrade for $2.7 billion, but the deal may face some regulatory hurdles and is expected to face close scrutiny from regulators. TD Ameritrade’s acquisition of Scottrade... More of this article »
British American Tobacco Seeks To Acquire Reynolds American
British American Tobacco PLC (LON:BATS) wants to own all of Reynolds American Inc. (NYSE:RAI). BAT offered to pay $47 billion for the roughly 58 percent of Reynolds that it doesn’t already own. The company would pay cash and... More of this article »
Walgreens Beats On Earnings, Misses On Revenue
Walgreens Boots Alliance Inc. (NASDAQ:WBA) reported mixed results for its latest quarter. While adjusted earnings topped estimates, revenue fell shy of expectations. The company reported net earnings of $1.03 billion, or $0.95 a share,... More of this article »
Goldman Sachs Beats Profit Expectations In 3Q
Goldman Sachs Group Inc. (NYSE:GS) handily beat Wall Street expectations as its quarterly earnings rose 47 percent. The bank reported a profit of $2.09 billion, or $4.88 a share, up from $1.43 billion, or $2.90 a share, reported in... More of this article »
Johnson & Johnson Beats Income And Revenue Estimates For 3Q
Johnson & Johnson (NYSE:JNJ) reported third-quarter revenue and profit that beat Wall Street estimates. Net income rose 27 percent to $4.27 billion, or $1.53 a share, from $3.36 billion, or $1.20 a share in the same quarter a... More of this article »
Amazon Ramps Up Holiday Hiring By 20%
Amazon (NASDAQ:AMZN) announced that it would be increasing the number of seasonal associates it hires for the holidays by 20 percent this year. Amazon will be hiring more than 120,000 temporary workers for this holiday season. The... More of this article »
Samsung Halts Shipping Of Replacement Galaxy Note 7s
Samsung has stopped production of the Galaxy Note 7 in cooperation with safety regulators from South Korea, China and the US. Samsung said it is “temporarily adjusting” the production schedule to ensure a safer phone. There... More of this article »
Facebook Aiming To Become A Workplace Essential
Facebook has officially launched Workplace, aiming to expand its services into the business world. Many people communicate with their friends primarily via social media platforms like Facebook. The social media giant now wants us to... More of this article »
Mylan Announces $465M Settlement With Government
Mylan (NASDAQ:MYL) has reached an agreement to pay $465 million to settle charges that company overcharged Medicaid for the allergy treatment EpiPen. Mylan will take the entire charge in the third quarter to pay for the settlement.... More of this article »
Yahoo Accused Of Scanning Users’ Email For Government
Reports have emerged of Yahoo’s (NASDAQ:YHOO) use of custom-built software to scan its users’ emails on behalf of federal investigators. Yahoo reportedly built a specialized program to search the incoming emails of its hundreds... More of this article »
Amazon Changing Its Policy On Incentivized Reviews
Amazon (NASDAQ:AMZN) is eliminating incentivized reviews from its platform, except for those from within the Amazon Vine program. The change was made to its Community Guidelines and announced today. The changes will apply to all product... More of this article »
Bass Pro To Acquire Outdoor-Gear Rival Cabela’s
Bass Pro Shops is close to acquiring Cabela’s Inc. (NYSE:CAB) after partnering with Goldman Sachs Group Inc’s private equity arm and Capital One Financial Corp. to submit the winning bid for the company. The wilderness-themed... More of this article »
Viacom And CBS May Be Merging Soon
CBS and Viacom Inc. (NASDAQ:VIA) may be getting back together after spending nearly a decade apart. Reports emerged Thursday that they are considering a merger. Viacom bought CBS in 2000. The companies split six years later because... More of this article »
Nintendo’s Pokémon Go Aims To Regain Popularity
Nintendo’s (NTDOY) hit game Pokémon Go is trying to regain its former popularity with updates that make the game more attractive to players. The augmented reality app has players find Pokémon throughout their surroundings with... More of this article »
Twitter Inching Closer To A Sale
Twitter’s (NYSE:TWTR) board has reportedly been considering a sale this month. The microblogging service has reportedly started talks with a number of technology companies to sell itself. Speculation that Twitter would be sold has... More of this article »
Mylan Under Fire For Creative Accounting Of EpiPen Profits
The currents swirling around the steep price increases on Mylan NV’s (NASDAQ:MYL) lifesaving EpiPen drug just got a little deeper for the company’s embattled CEO. When the company’s chief executive Heather Bresch testified before... More of this article »
Catch The General Election Debates On Twitter
Twitter (NYSE:TWTR) has formed a partnership with Bloomberg Media to livestream the general election debates. Bloomberg Media is Twitter’s exclusive streaming partner for the debates. Bloomberg Media CEO Justin B. Smith said in a... More of this article »
Allergan Announces Pair Of Acquisitions
Allergan Plc. (NYSE:AGN) announced a pair of acquisitions on Tuesday, both of companies developing treatments for liver disease. Allergan changed its dealmaking strategy following the collapse of its planned $160 billion merger with... More of this article »
Johnson & Johnson Inks Deal For Abbott Eye Health Unit
Johnson & Johnson has reached an agreement to buy the eye health unit of Abbott Laboratories for about $4.3 billion in cash. The unit, called Abbott Medical Optics, makes eye drops and contact lens cleaners, as well as equipment... More of this article »
Monsanto Agrees To Bayer’s Takeover Bid
Monsanto Co. (NYSE:MON) has reached an agreement for Bayer AG to buy the company in an all-cash deal worth about $66 billion. The deal will marry two of the world’s top farm suppliers. Details of the merger agreement is to be... More of this article »
Weight Watchers On The Search For New CEO
Weight Watchers (NYSE:WTW) chief executive James Chambers has announced that he will resign at the end of September. According to a statement from the company, he and the board of directors made a “joint decision” that... More of this article »
Aeropostale Selling Business To Mall Group
Teen clothing retailer Aeropostale Inc. (AROPQ) will be selling its assets to a partnership of mall owners after receiving permission from the court for the deal. The group won a Sept. 2 auction for the business with a bid of $243... More of this article »
HP Inc. To Pay $1.05B For Samsung’s Printing Business
HP Inc. (NYSE:HPQ) has announced that it has reached an agreement to purchase Samsung’s printing business in a deal worth $1.05 billion. With the acquisition, HP gets Samsung’s laser printing technology and around 6,500 printing... More of this article »